Financial Times Says Paid Posts Up 400% Following Acquisition of Alpha Grid
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For the first time in its 129-year history, the Financial Times said digital advertising revenue has surpassed print. The company credits a chunk of its success to content marketing studio Alpha Grid, which it acquired a controlling stake in last June.
The Alpha Grid acquisition was part of a larger trend among premium publishers last year, as many looked to bolster their bottom line by acquiring digital agencies who specialize in areas like branded content, targeting or creative.
Gannett, for example, purchased ReachLocal for $158 million and the New York Times paid $21 million for HelloSociety and another $11 million for Fake Love, according to global marketing consultancy R3. Time Inc. and Vice also made similar acquisitions totaling $50 million.
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